- 08 Jul, 2018
Significant number of people are nowadays venturing into business activities taking on financial risk in a hope of making profits. The expectation of profit though varies with the kind of profit margin industry offers. We have come a long way from brick and mortar to click and order business models.
Entrepreneurship has evolved in this decade like never before with number of startup’s risen and it still continues. Young enthusiasts explore new business areas to make hefty profits. Crowd-funding, Consulting in niche areas such as finance and healthcare, renting out website services, home-delivery services, online subscription services, Edtech services, etc. Most of these business ideas require formal education, decent capital and regulatory documentation to start with.
A new business idea which have created largest number of millionaire’s in the last decade still remains the most unexplored business idea. An idea which allows everyone to have his own business with low investment and high returns. Network marketing has so far been the most lucrative and fascinating industry of the century.
Business for everyone
It is very popular business opportunity among people looking for part-time, flexible businesses. Some of the best-known companies in America, including Avon, Mary Kay Cosmetics and Tupperware, fall under the network marketing umbrella. Typically, it is considered as Part Time profession but it offers very low barriers into entrepreneurship, often providing training, support, and ample encouragement along the way.
Numerous companies like Amway, Tupperware, Herbalife has created their presence over the period. They have shown the most sustainable growth, created highest number of millionaires. It avails with specific types of products and service available through and fulfils essentials of regular usage. No time restrictions make it more convenient for students, housewives and to those who do not want to get tied up with 9 to 5 job culture.
Network marketing compensation plans are well-known for their highly paid returns. The returns may vary from 10% to 30% including direct- indirect sponsoring, different attainable senior levels, leadership. After a certain time, you start leveraging time and efforts of others and the business becomes a source of passive income which grows exponentially to create wealth. Here is what some of the successful people say about Network Marketing.
Bill Gates (Founder of Microsoft)
Robert Kiyosaki (Author of Rich Dad Poor Dad)
Warren Buffet (Billionaire investor)
Donald Trump (President, United States)
Despite of so many features, the industry is dented by perception about network marketing as pyramid model. Most of the countries lack the policies and guidelines which could differentiate between the legal and illegal network marketing companies. Absence of regulations leave the investors at the mercy of the network marketing company. Secondly, the success rate of industry is relatively low, which discourages people who wish to have steady and quick returns.
The second biggest and an equally lucrative business idea is cryptocurrency mining and trading. Digitalisation has transformed banking and finance sector and so as our understanding of money Applications of blockchain in finance Nowadays we hardly deal with physical money. Plastic money and digital money has replaced it thoroughly.
Trends have changed, our money is not moving toward complete digitalization. The future of money is cryptocurrency (What is cryptocurrency and how does it work). Cryptocurrency mining requires big servers, dedicated software, and electric power to mine cryptocoins such as bitcoin or altcoins. Cryptocurrency mining is validation and confirmation of transactions on network nodes where all cryptocurrency transactions happen. The setup cost for cryptocurrency mining is low and the returns are huge. For instance, a person could have started bitcoin mining in 2010 with just a laptop and table fan to get 50 bitcoins per 10 minutes. Assuming that he was able to mine only one block of bitcoin transactions. A total earning of 50 bitcoins per day would have fetched him over one crore*.
Disclaimer*- Assumption basis the price of bitcoin ($3,000) in June 2017